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Economy & Business - June 2004
BUSINESS: CVRD looks north
Brazil's biggest mining company, Companhia Vale do Rio Doce (CVRD), saw its share price fall by 4% on 15 June after a leak went around the
markets that it was about to buy Noranda, Canada's biggest mining company. CVRD would have to pay around US$4.7bn (Can$6.5bn) for Noranda. This deal would be one of the biggest-ever acquisitions by a Latin American company of a company based in an industrialised country. CVRD is not alone in eyeing Noranda. Anglo American, another mining company, mostly focused on gold and platinum, is also interested in
Noranda.
- Better than forecast
- What's happening in 2004?
- Finance minister raises growth forecast
- BRAZIL: Government asserts itself
- ARGENTINA: Recovery on again
- CHILE: Corbo sticks to low interest rate policy
- PARAGUAY: IMF criticises breaks for business
- URUGUAY: Recovery gathers strength
- BOLIVIA: Optimism from central bank
- VENEZUELA: Braced for the referendum
- COLOMBIA: Steady
- ECUADOR: Oil exports jump
- PERU: Economy re-rated
- COSTA RICA: Fiscal reform finally approved
- CUBA: Sol Melía raises profits by 27%
- DOMINICAN REPUBLIC: AES calls government's bluff
- EL SALVADOR: Saca gets FMLN support for budget
- GUATEMALA: Fiscal compromise to cost at least Q1bn
- HONDURAS: Good harvest
- NICARAGUA: Inflation jumps
- PANAMA: Blockages
- PRIVATISATION: Congress alleges oil privatisation in Mexico
- BUSINESS: CVRD looks north
- USDA optimism at odds with local figures
- METALS: Chile's copper exports double, but prices stable
- COMMODITIES BRIEF
- ARGENTINA: Bondholders ask for more